Jim Rogers, one of the worlds most successful investors, said global equities are “vulnerable to correction” after rallying from their March lows.
In an interview with Bloomberg in Hong Kong today, Rogers, who is chairman of Singapore-based Rogers Holdings, said: “We’re overdue for a correction.”
“Stock markets around the world have been going up for the past 10 months”, he added.
Reiterating his view about US monetary policy, Rogers warned that having huge amounts of money printed throughout the world “It’s going to cause currency instability. It’s going to cause more inflation. It’s going to cause higher interest rates.”
Bloomberg: “I don’t think anybody has tightened enough. I think everybody should tighten more,” Rogers told Bloomberg. “We have huge amounts of money printed throughout the world” he added.
Rogers, who has said repeatedly that a tighter monetary policy in the U.S. is necessary, has been very vocal against the massive monetary easing the Fed has engineered under Fed Chairman Ben Bernanke.
He has reiterated in many interviews that once you get irresponsible with the printing press, you’re on your way to worthless currency. According to Rogers, printing money is a strategy that has been tried many times in many countries and has never worked in the long term.